The Bank of Korea has launched its first survey of 31 financial institutions, including 18 banks and 13 securities firms, to assess their exposure to cryptocurrency-related risks. The questionnaire, which opened on October 23, covers staffing, budgets, activities and investments in the sector, as well as how institutions would respond to a major hack, a prolonged market downturn or heavy losses at another firm. The survey began before the $6.3 billion Binance hack, which US authorities attributed to North Korean hackers. Meanwhile, South Korean financial institutions continue developing stablecoin services despite regulatory delays. Regulators have also proposed tougher cybersecurity requirements after identifying deficiencies at 130 of the 555 financial companies they examined.
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